Arkadios Wealth Advisors Raises Stock Position in AbbVie Inc. (NYSE:ABBV)

Arkadios Wealth Advisors raised its stake in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 9.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,443 shares of the company’s stock after purchasing an additional 2,738 shares during the quarter. AbbVie makes up about 0.7% of Arkadios Wealth Advisors’ holdings, making the stock its 28th biggest holding. Arkadios Wealth Advisors’ holdings in AbbVie were worth $4,663,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ABBV. Intelligent Financial Strategies bought a new position in AbbVie in the 4th quarter worth about $27,000. Psagot Value Holdings Ltd. Israel boosted its stake in AbbVie by 311.3% in the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 4,360 shares of the company’s stock worth $28,000 after purchasing an additional 3,300 shares in the last quarter. GoalVest Advisory LLC bought a new position in AbbVie in the 1st quarter worth about $33,000. Joseph P. Lucia & Associates LLC bought a new position in AbbVie in the 1st quarter worth about $34,000. Finally, Landmark Wealth Management LLC bought a new position in AbbVie in the 1st quarter worth about $42,000. 68.25% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Up 1.9 %

AbbVie stock opened at $143.01 on Friday. The firm has a 50 day moving average of $141.99 and a 200 day moving average of $149.56. The firm has a market capitalization of $252.86 billion, a price-to-earnings ratio of 20.26, a P/E/G ratio of 3.98 and a beta of 0.72. AbbVie Inc. has a 12-month low of $106.44 and a 12-month high of $175.91. The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt-to-equity ratio of 4.15.

AbbVie (NYSE:ABBVGet Rating) last announced its quarterly earnings data on Friday, July 29th. The company reported $3.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.42 by $0.09. AbbVie had a net margin of 22.03% and a return on equity of 158.41%. The business had revenue of $14.58 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same period last year, the firm posted $3.11 EPS. The company’s revenue was up 4.5% on a year-over-year basis. As a group, research analysts predict that AbbVie Inc. will post 14.05 earnings per share for the current year.

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend is Thursday, October 13th. AbbVie’s dividend payout ratio (DPR) is currently 79.89%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ABBV. Atlantic Securities lowered their target price on shares of AbbVie from $178.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, August 1st. Argus lowered their target price on shares of AbbVie from $165.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, August 24th. Morgan Stanley lowered their target price on shares of AbbVie from $191.00 to $188.00 and set an “overweight” rating on the stock in a research note on Monday, August 1st. Barclays lowered their target price on shares of AbbVie to $160.00 in a research note on Tuesday, August 9th. Finally, UBS Group lowered their target price on shares of AbbVie from $154.00 to $146.00 and set a “neutral” rating on the stock in a research note on Monday, August 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.35.

AbbVie Profile

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AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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